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Nonprofiteer
← USC HEALTH SYSTEM

Form 990 for tax year 2022

Filed by USC HEALTH SYSTEM.

Totals

Total revenue
$22,727,939
Total expenses
$303,866,216
Contributions and grants received
$1,708,044
Grants paid
$0
Program services expenses (Part IX)
$7,578,637
Management and general expenses
$296,287,579
Fundraising expenses
$0
Program service expenses (Part III)
$7,578,637

Program services were 2.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CAROL L FOLT

    University President

    Total calculated
    $4,628,109
    From this org
    $0
    From related orgs
    $3,673,614
    Other
    $954,495
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,766,635 related
    Bonus
    $0 + $850,000 related
    Other
    $0 + $1,056,979 related
    Deferred
    $0 + $931,667 related
    Nontaxable benefits
    $0 + $22,828 related
    Filer's total
    $0 + $4,628,109 related

  • STEVEN D SHAPIRO

    SVP, Health Affairs

    Total calculated
    $3,380,161
    From this org
    $0
    From related orgs
    $2,859,021
    Other
    $521,140
    Hours/week
    2 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,522,927 related
    Bonus
    $0 + $1,000,000 related
    Other
    $0 + $336,094 related
    Deferred
    $0 + $480,500 related
    Nontaxable benefits
    $0 + $40,640 related
    Filer's total
    $0 + $3,380,161 related

  • CHARLES F ZUKOSKI

    Univ Provost (until 11/28/22)

    Total calculated
    $2,199,544
    From this org
    $0
    From related orgs
    $2,033,036
    Other
    $166,508
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $845,814 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $1,137,222 related
    Deferred
    $0 + $130,500 related
    Nontaxable benefits
    $0 + $36,008 related
    Filer's total
    $0 + $2,199,544 related

  • ROD HANNERS

    Director/CEO & PresidenT

    Total calculated
    $2,064,680
    From this org
    $0
    From related orgs
    $2,006,403
    Other
    $58,277
    Hours/week
    2 + 55.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,176,716 related
    Bonus
    $0 + $596,612 related
    Other
    $0 + $233,075 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $27,777 related
    Filer's total
    $0 + $2,064,680 related

  • JAMES M STATEN

    Dir/Treas (until 1/20/23)

    Total calculated
    $1,995,159
    From this org
    $0
    From related orgs
    $1,916,188
    Other
    $78,971
    Hours/week
    2 + 58.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,524,938 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $291,250 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $48,471 related
    Filer's total
    $0 + $1,995,159 related

  • BEONG-SOO KIM

    Secretary

    Total calculated
    $1,413,546
    From this org
    $0
    From related orgs
    $1,176,988
    Other
    $236,558
    Hours/week
    2 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $737,879 related
    Bonus
    $0 + $300,000 related
    Other
    $0 + $139,109 related
    Deferred
    $0 + $230,500 related
    Nontaxable benefits
    $0 + $6,058 related
    Filer's total
    $0 + $1,413,546 related

  • CAROLYN MELTZER MD

    Director (AS OF 11/30/22)

    Total calculated
    $1,315,907
    From this org
    $0
    From related orgs
    $1,287,546
    Other
    $28,361
    Hours/week
    2 + 52.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,070,879 related
    Bonus
    $0 + $216,667 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $28,361 related
    Filer's total
    $0 + $1,315,907 related

  • DAVID PENG MD

    SEE SCHEDULE O FOR TITLE

    Total calculated
    $1,190,378
    From this org
    $0
    From related orgs
    $1,049,978
    Other
    $140,400
    Hours/week
    56.5 + 8.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $905,418 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $69,560 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $109,900 related
    Filer's total
    $0 + $1,190,378 related

  • ERIC STRUCKO

    CFO (UNTIL 2/17/23)

    Total calculated
    $1,139,344
    From this org
    $0
    From related orgs
    $1,093,318
    Other
    $46,026
    Hours/week
    40 + 4.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $808,414 related
    Bonus
    $0 + $191,580 related
    Other
    $0 + $93,324 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $15,526 related
    Filer's total
    $0 + $1,139,344 related

  • SHAWN T SHEFFIELD

    Chief Strategy Officer

    Total calculated
    $962,970
    From this org
    $0
    From related orgs
    $858,073
    Other
    $104,897
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $0 + $634,613 related
    Bonus
    $0 + $150,673 related
    Other
    $0 + $72,787 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $74,397 related
    Filer's total
    $0 + $962,970 related

  • TIMOTHY MALSEED

    CHIEF INFO. OFFICER - KMC

    Total calculated
    $828,591
    From this org
    $0
    From related orgs
    $779,761
    Other
    $48,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $575,819 related
    Bonus
    $0 + $138,713 related
    Other
    $0 + $65,229 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $18,330 related
    Filer's total
    $0 + $828,591 related

  • ERIK BRINK

    Treasurer (AS OF 1/21/23)

    Total calculated
    $798,824
    From this org
    $0
    From related orgs
    $697,286
    Other
    $101,538
    Hours/week
    2 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $560,155 related
    Bonus
    $0 + $80,000 related
    Other
    $0 + $57,131 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $71,038 related
    Filer's total
    $0 + $798,824 related

  • TAMARA CAPRETTA

    AVP, HEALTHCARE COMPLIANCE

    Total calculated
    $774,820
    From this org
    $0
    From related orgs
    $727,110
    Other
    $47,710
    Hours/week
    40 + 4 related

    Schedule J breakdown matched by us

    Base
    $0 + $558,156 related
    Bonus
    $0 + $129,267 related
    Other
    $0 + $39,687 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $17,210 related
    Filer's total
    $0 + $774,820 related

  • ERNEST SCHWEFLER

    CHIEF CONTRACTING OFFICER

    Total calculated
    $688,239
    From this org
    $0
    From related orgs
    $613,624
    Other
    $74,615
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $450,811 related
    Bonus
    $0 + $111,953 related
    Other
    $0 + $50,860 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $44,115 related
    Filer's total
    $0 + $688,239 related

  • JEFFREY HAY

    SEE SCHEDULE O FOR TITLE

    Total calculated
    $634,761
    From this org
    $0
    From related orgs
    $578,549
    Other
    $56,212
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $426,530 related
    Bonus
    $0 + $105,070 related
    Other
    $0 + $46,949 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $25,712 related
    Filer's total
    $0 + $634,761 related

  • AJAY VYAS

    See Schedule O for title

    Total calculated
    $548,894
    From this org
    $0
    From related orgs
    $477,742
    Other
    $71,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $382,859 related
    Bonus
    $0 + $77,200 related
    Other
    $0 + $17,683 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $40,652 related
    Filer's total
    $0 + $548,894 related

  • EDWARD HALL

    SEE SCHEDULE O FOR TITLE

    Total calculated
    $507,658
    From this org
    $0
    From related orgs
    $444,545
    Other
    $63,113
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $318,875 related
    Bonus
    $0 + $111,747 related
    Other
    $0 + $13,923 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $32,613 related
    Filer's total
    $0 + $507,658 related

  • TIA BUSH

    Director (UNTIL 5/25/23)

    Total calculated
    $0
    Hours/week
    2

  • GERALD HICKSON

    Director

    Total calculated
    $0
    Hours/week
    2

  • JOHN KUSMIERSKY

    Director

    Total calculated
    $0
    Hours/week
    2 + 0.5 related

  • TRES PETMECKY

    Director (AS of 7/1/22)

    Total calculated
    $0
    Hours/week
    2

  • AMY ROSS PHD

    Director

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • PAUL ROTHMAN

    Director (AS OF 3/16/23)

    Total calculated
    $0
    Hours/week
    2

  • LEONARD D SCHAEFFER

    Director/Chair

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • WILLIAM EB SIART

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3:
THE ORGANIZATION RELIES ON THE UNIVERSITY OF SOUTHERN CALIFORNIA (USC), A RELATED ORGANIZATION, TO ESTABLISH THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER. THE COMPENSATION IS DETERMINED ANNUALLY USING THE SAFE HARBOR PROCESS DESCRIBED IN TREASURY REGULATION SECTION 53.4958-6. NAMELY, A COMMITTEE OF THE USC'S BOARD OF DIRECTORS TAKES THE FOLLOWING THREE STEPS: (1) IT ENSURES THAT NO MEMBER OF THE COMMITTEE HAS A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT BEING REVIEWED, (2) IT LOOKS TO COMPARABILITY DATA AND SPECIALIZED COMPENSATION REPORTS (AND IN SOME CASES OPINIONS) PREPARED FOR USC BY COMPENSATION CONSULTANTS WITH RESPECT TO SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT SIMILARLY SITUATED HEALTHCARE ORGANIZATIONS, AND (3) IT MAINTAINS A CONTEMPORANEOUS RECORD OF ITS DELIBERATIONS AND DECISIONS.
SCHEDULE J, PART I, LINE 4B:
CAROL FOLT: DURING THE CALENDAR YEAR THE PRESIDENT OF THE UNIVERSITY OF SOUTHERN CALIFORNIA PARTICIPATED IN TWO RETENTION PROGRAMS. UNDER THE FIRST PLAN, A PAYMENT OF $2,000,000 (ACCRUING AT $666,667 PER FISCAL YEAR, PLUS INTEREST, BEGINNING ON JULY 1, 2021, SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE) IS SCHEDULED TO VEST AND BE PAYABLE IN 2024. A RATABLE ACCRUAL OF $666,667 FROM CALENDAR YEAR 2022 IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). UNDER THE SECOND PLAN, 10% OF THE PRESIDENT'S COMBINED BASE SALARY AND BONUS LESS THE PRESIDENT'S SECTION 401(A) CONTRIBUTION FOR THE YEAR IS DEFERRED SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE, AND SCHEDULED TO VEST (PLUS INTEREST) AND BE PAYABLE IN 2024. THE PLAN WAS EFFECTIVE STARTING IN DECEMBER 2021. A RATABLE ACCRUAL OF $234,500 FROM THE CALENDAR YEAR IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). CHARLES ZUKOSKI: DURING CALENDAR YEAR 2022, PROVOST AND SENIOR VICE PRESIDENT, ACADEMIC AFFAIRS AT THE UNIVERSITY OF SOUTHERN CALIFORNIA, PARTICIPATED IN A RETENTION PROGRAM. A PAYMENT OF $500,000 (ACCRUING AT $100,000 PER YEAR) IS SCHEDULED TO VEST AND BE PAYABLE IN 2024 SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. AN ACCRUAL OF $100,000 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). AS CHARLES ZUKOSKI STEPPED DOWN FROM HIS OFFICER POSITION AT THE UNIVERSITY ON DECEMBER 31, 2022, HE WILL NOT RECEIVE A CALENDAR YEAR 2023 ACCRUAL OR A 2024 PAYMENT UNDER THIS RETENTION PROGRAM. BEONG-SOO KIM: DURING CALENDAR YEAR 2022, SENIOR VICE PRESIDENT & GENERAL COUNSEL AT THE UNIVERSITY OF SOUTHERN CALIFORNIA, PARTICIPATED IN A RETENTION PROGRAM. A PAYMENT OF $1,000,000 (ACCRUING AT $200,000 PER YEAR) IS SCHEDULED TO VEST AND BE PAYABLE IN 2026 SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. AN ACCRUAL OF $200,000 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). STEVEN D. SHAPIRO: UNDER HIS EMPLOYMENT AGREEMENT, THE SENIOR VICE PRESIDENT OF HEALTH AFFAIRS AT THE UNIVERSITY OF SOUTHERN CALIFORNIA WAS ELIGIBLE FOR BONUSES IN GUARANTEED AMOUNTS. A PAYMENT OF $1,000,000 VESTED AND WAS PAYABLE IN JUNE 2022. ANOTHER PAYMENT OF AT LEAST $750,000 IS SCHEDULED TO VEST AND BE PAYABLE IN JUNE 2023. THE BONUSES ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. A RATABLE ACCRUAL OF $375,000 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). DURING CALENDAR YEAR 2022, HE PARTICIPATED IN A RETENTION PROGRAM. A PAYMENT OF $1,000,000 (ACCRUING AT $200,000 PER YEAR) IS SCHEDULED TO VEST AND BE PAYABLE IN 2026 SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. AN ACCRUAL OF $125,000 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). ROD HANNERS: DURING CALENDAR YEAR 2022, CEO OF KECK MEDICINE OF USC, PARTICIPATED IN A RETENTION PROGRAM. THE RETENTION AWARDS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. A PAYMENT OF $250,000 VESTED IN DECEMBER 2021 AND WAS PAID IN FEBRUARY 2022. THE PAYMENT AMOUNT HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(II). ANOTHER PAYMENT OF $250,000 WAS SCHEDULED TO VEST IN DECEMBER 2022 AND BE PAYABLE IN JANUARY 2023. A RATABLE ACCRUAL OF $0 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C) AS THE PAYMENT WAS MADE WITHIN TWO AND A HALF MONTHS AFTER THE END OF CALENDAR YEAR 2022. OTHER: IN 1994 USC CREATED A 457(F) SUPPLEMENTAL RETIREMENT PLAN TO PROVIDE MAKE-UP BENEFITS TO EMPLOYEES WHOSE COMPENSATION EXCEEDS THE EARNINGS LIMITATION FOR CONTRIBUTIONS TO THE USC DEFINED CONTRIBUTION RETIREMENT PLAN. AS OF JANUARY 1, 2005, THE PLAN WAS FROZEN AND PARTICIPANTS, WITH RESPECT TO FUTURE MAKE UP BENEFITS, WERE NO LONGER PERMITTED TO DEFER THESE BENEFITS.
SCHEDULE J, PART II:
DURING 2022, THE INDIVIDUALS REPORTED ON SCHEDULE J, PART II WERE PAID BY THE UNIVERSITY OF SOUTHERN CALIFORNIA ("USC"), A RELATED ORGANIZATION. CERTAIN DIRECTORS OF USC HEALTH SYSTEM ARE FULL-TIME EMPLOYEES OF THE USC ADMINISTRATION. THESE INDIVIDUALS ARE NOT COMPENSATED FOR THEIR ROLE AS DIRECTORS OF USC HEALTH SYSTEM. FOR PURPOSES OF FORM 990 REPORTING, A COMMON LAW EMPLOYEE ANALYSIS HAS BEEN COMPLETED BY THE FILING ORGANIZATION TO DETERMINE ITS KEY EMPLOYEES AND HIGHEST COMPENSATED EMPLOYEES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202401369349305700

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